Biohaven slumps on pricing $175 mln stock deal

Biohaven

12/11/2025 13:26

** Shares of biopharma co Biohaven BHVN.N down 9.3% before the bell to $7.73 after $175 mln follow-on priced

** New Haven, Connecticut-based BHVN early Weds sells ~23.3 mln shares at $7.50, 12% below last close

** It plans to use net proceeds for general corporate purposes

** JP Morgan, Goldman Sachs, Leerink, TD Cowen and Cantor Fitzgerald are bookrunners

** Co has ~105.8 mln shares outstanding

** BHVN shares on Tues rose 9.4%, trimming YTD loss to 77%

** On Nov 5, shares plunged 40% to $8.34 after the U.S. FDA declined to approve troriluzole, its experimental drug for spinocerebellar ataxia (SCA), a rare brain disorder

** 14 of 18 analysts rate BHVN "strong buy" or "buy", rest rate "hold"; median PT of $27 down from $49.50 a month ago, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))